The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-03-11
CONDITION OF THE MARKETS.
Wheat Declines HveCents, Causing Wild
Excitement in the Grain Pit.
! Frantic Rush of Spectators Anxious to
Unload-Corn Strong and Unchanged
Provisions Inactive and Unchanged.
MONEY, BONDS AND STOCKS.


A Decrease of Activity, the Market Closing
Quiet and Steady to Firm.
NEW YORK. March 1o.-Money on call was
1asy at 81 a Al per cent, closing at 81 per cent.
Prime mercantile paper, soc per cent.
Sterling exchange was dull at 81 84sa for sixty
lay bills and 81 s7s for demand.
The total sales of stocks to-day were 266, 565
shares, including the following: Delaware. Lack
awanna IL Western, 81, $780, Erie, 1900; Lake
Shore, $500; Louisville & Nashville, $3.50;
Northwestern, 5Sl5; New Jersey Central,
b.795; New England, I4.47o; Reading, 64170;
St Paul, 10, 3O5; Union Pacific, 1880; Western
Union, 40.
The stock market was less active to-day and
presented fewer features of interest. Outside
of Western Union, Reading, Richmond & West
Point, Lackawanna and New England, the trad
ing was positively, dull and devoid of feature.
The strength of New England on buying in
duced by rumors of a new deal of importance in
that stock and the general covering of shorts, I"
kept the list firm during the first hour, but
when the demand ceased the general disposition
20 hold off until something definite is known
in regard to the 'bg DEAL" together with the
charge that tho premature announcement Of the
plan bids fair to defeat it, had the effect of check
ing the activity and sagging prices off slowly,
until the bears" perceiying the drift of events,
began to attack prices. This brought more
activity, and more decided weakness was shown
The adjournment of the Richmond & West
Point executive committee without taking action
on the proposed deal also helped to give an i'm
petus to the downward movement. Western
Union was again the leader of speculation, and,
although it did not decline as much as yester-
day, it was weak throughout after the first hour.
Richmond 81 West Point sympathzed closely
with it in its movements while Reading was
very well held throughout Lackawanna was
heavy. Morris & Essex regaiued about per
cent Of its losses of the past few days. The
The opening was quiet and firm first prices
allowing advances of to per cent generally
The market was firm, but with the exception of
Morris q Essex, New England and Jersey Cen
trail which advanced materially, there was no
decided strength. The advance was checked
at the end of the first hour, and the entire list
weakened under the lead of Lackawanna After
noon period of dizziness and stagnation snsued,
lasting until nearly 2 p. NJ, when decided weak
ness was developed, and the lowest prices were
recorded about 2:30, after which slight rally
occurred, and the market closed quiet and steady
10 FIRM. The majority of the stocks are lower
this evening, but the changes are for fractions
only, except Tennessee coal, which lost per
cent, and gain of 81 in Morris & Essex.
Railroad bonds were dull and without feature
The sales to-day aggregated only 1913, 000 final
prices showing. in most instances, small ad-
vances. Kansas Pacific skies of 1895 gained 81
to l14l the skies of 1896, /, to 1l5; Rochester &
Pittsburg frsts, 3, to III; Decatur & Evansville
Evansville division) incomes, 81, to 84A Hook
ing Valley general mortgage SKIES lost 8. to II,
and Atlantic 81 Pacific tours, l. to 85A.
Governments we're steady to-day. Closing
quotations were: